Panasonic announces new 'Lifestyle Update' concept

Panasonic Group in Thailand has introduced "Lifestyle Update" concept that offers products and services developed from lifestyle and consumer behaviour, the company said in a press release on Friday.

The company said it is confident it will hit earnings of Bt100 billion and become the number one in the consumer's mind in 2020.

Hidekazu Ito, CEO of Panasonic Group in Thailand, said 2018 was the year that Panasonic companies around the world celebrated the 100th anniversary of its founding in Japan under the concept “A Century of Reliability”.

One of the remarkable event was Panasonic's 100th Anniversary global exhibition called “Cross-Value Innovation Forum” where Panasonic Corporation President, Kazuhiro Tsuga emphasised Panasonic's strategy of looking into the future and stepping into the second century by co-creating along with business partners, customers, and consumers in daily life.

He also announced the vision and the direction of Panasonic's business operations around the world in the next 100 years.

One of the important guidelines is the introduction of a new business concept called "Lifestyle Update", which is considered a challenge in the next 100 years for Panasonic as a "manufacturer" of electronic appliances to become a leader in offering modern lifestyles with products and services developed by Panasonic and based on the preferences and lifestyles of each user.

The concept "Lifestyle Update" is based on the use of lifestyle data and consumer behaviour to answer as much as possible the lifestyle of consumers involved with technology.

"In the next 100 years, Panasonic is still continuing to adhere to the main concept of "A Better Life, A Better World" in accordance with the company founder’s guidelines commitment to non-stop development of innovation and technology to give a better life and to solve the quality of life problems for people by offering sustainable solutions for a better world through the development of products and solutions in 3 categories: Living Space, Mobility and Business to Business (B2B).

“The event "Cross-Value Innovation Forum", recently held in Japan, exhibited products, technologies, and innovations from Panasonic for today and in the future from these three business categories. The Mobility, for example, features a small multi-purpose car platform that can be adjusted to different usage such as a vehicle for family, a postal service bus, a school bus. At the B2B, the group presented an example of successful business-to-business cooperation between Panasonic and other businesses, such as at the largest hot pot restaurant chain in China where Panasonic's robotic arm is used in the food preparation process,” the company said.

The Living Space launched HomeX Project, the latest solution that is ready to be used in Panasonic's home, developed by Panasonic Beta, a Panasonic subsidiary based in Silicon Valley.

HomeX Project is a topnotch information infrastructure that understands what inhabitant wants by season or depending on weather conditions by collecting data from a device via the Internet.

This indicates that Panasonic has transcended its traditional business practices from "upgrading" or improving the well-being of people with updated home appliances and electronic devices that Panasonic has developed meticulously to become a leader, which presents the modern lifestyle or Lifestyle Update by the trend of lifestyle that is changing rapidly with diversity as well as an individual’s lifestyle that paves the way to create opportunities for Panasonic at the global level.

Based on Panasonic's global approach to becoming a Lifestyle Update, especially in the Living Space, Panasonic Group in Thailand has mapped out to implement this approach for marketing operations by focusing on presenting new experiences and better quality of life along with studying the needs of the domestic market.

Panasonic finds that Thai consumers pay more attention to quality of life, convenience, and safety. The ‘Quality Air For Life’ is one of the solutions that Panasonic offers for the better quality of life for Thai people because the air quality is significant to everyone, which may affect health and safety while living at home.

Presently, air pollution problems are becoming a big problem around the world, including Thailand. Panasonic's Quality Air For Life solution will help solve air quality problems, whether for homes or public areas, with ventilation systems that keep the rooms clean, air conditioning systems that create cool air, offering nanoeTM Technology that inhibits PM 2.5 dust. Fungi, and viruses, which can help alleviate air pollution problems Thailand is facing.

Modern consumers opt for buying a house that meets their future lifestyle needs, equipped with convenience and safety of living in the home and the community. Panasonic thus offers Home Automation, a home control system that combines all aspects of convenience together.

Making it different with the concept Smart & Safety Life to help raise the safety level of the residents' lives. The functions are controlled by a smartphone. Panasonic’s IP Camera offers full HD quality with an infrared system that can be used even in the dark, including the Panasonic Home Automation system that can turn off and turn on lights and electrical appliances via a smartphone when you are not at home.

This helps stop worrying about dangers. Panasonic believes that providing a better quality of life in terms of air quality and safety will meet the needs of today's consumers the most. "

For 2018, Panasonic forecasted its operating results worldwide to be worth Bt2.5 trillion, an increase from 2017, by approximately 1 per cent from 4 business groups, consisting of 1. Appliances Company (AP), generating a sales proportion at 31 per cent; 2. Eco Solutions Company (ES), making a share of 23 per cent; 3. Connected Solution Company (CNS), holding a proportion of sales at 13 per cent; and 4. Automotive & Industrial Systems Company (AIS), seeing its proportion Sales at 33 per cent.

In Thailand, the total turnover is recorded at Bt91 billion, consisting of the following groups: 24 per cent by AP, 9 per cent by ES, 2 per cent by CNS, and 65 per cent by AIS. From the direction of the operation, it is expected that Panasonic Group in Thailand will generate revenue of over Bt100 billion in 2020 and become the number one brand in the consumer's mind as planned.